it rose to popularity directly from carding, malware botnet renting, and other online crime
old heads know this, and participated.
+ SilkdRd was birthplace
im not being hyperbolic. new heads rewrote its history to be about freedom based on Satoshi paper. but nobody used it then, worth pennies 4 years
then botnets and carders started accepting crypto to prevent cc chargebacks. price rose. but what REALLY made it take off was….
the botnet operators soon realized they could make more mining on their botnet than renting it
in 2011 95% of mined coins came from botnets. reason was scale, having access to 1000s of machcines - before graphic card or warehouse mining. hobbyist miners were small fish
i know all this from working cyber investigations during that period on botnets like those created with Zeus n BackOrifice
had data on all bitcoin nodes (IPs, countries) and could x-ref them with data provided by AV and security companies like Kaspersky and Cloudflare. 95%!!!
so what’s the takeaway from all this?
know that the majority of those with real wealth from BTC did it buying and engaging in crime between 2009-2014. they’re here amongst you, shaping the culture and trying to hide it’s criminal hacker past - and frankly its present
small funny anecdote:
encryption was popular back then in hacker communities then, which they’d use on malware 4 entropy to prevent AV detection
tools that did this were called “crypters” and they’d sell em for bitcoin and say “crypter 4 crypto”
which popularized term “crypto”
that’s 7 years before it was popular in private hacker communities, the same people that truly started the crypto movement before mainstream had a clue
silkroad, and Dark0de. if they still exist or have archives, search the term crypto being used back then - only eve used to refer to a payment for malware with bitcointhis twitter thread.